Yes both Venmo and PayPal will just hold the money in your Venmo and PayPal accounts, and you can transfer however much you want whenever you want to. It will not be multiple small transactions from your bank’s perspective.
Just on the general principle of Moore’s Law, I’ll say “yes”.
UPDATE
Turns out I don’t need a business account after all. I was just approved for a card reader linked to my personal checking account.
And (Moore’s law aside) why would they freak out about a sudden flow of money into the account?
Minor quibble: I think it may be a different law being referred to…unless the OP expects to see his income double every two years.
D’oh! I’m pretty sure @Darren_Garrison meant Murphy’s Law. And I didn’t even catch it. #FridayBrain
(Although, with my low expectations for this year, I may just double my revenue in 2025.)
Yes, I did. (And in making that mistake, proved my point.)
Besides the Feds, Illinois, and the county lawyering on the requirements; I wouldn’t be surprised if a city/town would have some sort of vendor/permitting rules you’ll find out about just before trying to open up. It’s called the WTF Law.
I checked. They don’t have anything like that for pop-ups, but once I get a permanent location I will indeed need a local license.
Unless it’s the unlikely event where you start getting thousands of dollars all at once, probably not.
Unlikely? Sez you! ![]()
(Since my store is only going to be open for one day a month, at first, I’m hoping I can top triple digits on those days.)
Does that include the two after the decimal point? ![]()
Brian
just moved back home 2 yrs ago, and i’m still crying over death of Balabans. Didn’t there use to be record chain Peaches?
“Balabans”. Now that’s a name I’ve not heard in a long time … a long time.
Peaches I’m not sure about. I was never a big recording buyer regardless of format.
Yes! Peaches was awesome! I still have one of their wooden peach crates with some old CDs in it!
UPDATE
I’m eight days out from the June 15 pop-up, and it’s been an educational experience. I’m feeling really good about things but also nervous as hell.
I’ll probably be off the Dope for most of the next week, but feel free to offer up any helpful last-minute advice.
And if you live in northern Illinois or southern Wisconsin, come have a look and listen! The Waukegan Music Exchange will be open 5-9 on June 15 at 115 N. Genesee St.
Best of luck to you! Maybe one day each of us can say your enormous success in the used vinyl business was due to “my advice”.
Peaches became Coconuts, or at least around here the Peaches store became Coconuts. Would have been c. 1990; I feel like maybe 1987/88.
Best wishes. I was a vinyl guy for a long while after CDs came out. Some of the transfers (“we used the master tapes”?) were a vile assault to the ears. Massive compression in frequency response and amplitude; wholesale audible crimes. They did get better. Many artists/performers were also dismayed and pushed for better sampling rates and greater fidelity.
5-9 or 9-5? Just not used to municipal flea market/farmer market style events being open for evening hours.
Big music store down by me was Crow’s Nest (now, ignobly, a Once Upon A Child). I still see a number of records with Crow’s Nest stickers haunting the local used vinyl places.
The ArtWauk event runs 5-9 p.m, but I’m hoping to have my doors open by 3:00.